News

Warren Buffett will remain Chairman of Berkshire Hathaway after stepping down as Chief Executive Officer, the investment holding company has confirmed.

Greg Abel, currently Vice Chairman, will take over as CEO from January 1, 2026. The Board of Directors unanimously approved his appointment. Abel will be responsible for key management decisions, while Buffett is expected to serve as an adviser.

The 94-year-old billionaire first announced plans to hand over the reins earlier in May. Buffett described Abel as the ideal person to lead Berkshire Hathaway and expressed confidence in the company’s future.

«Everything...

Women have officially started operating trains in the Tashkent Metro for the first time, marking a historic milestone for Uzbekistan. The announcement was made by the Mir television channel.

At this stage, the women are working under the guidance of experienced mentors but are expected to take full control of train operations independently in the near future.

The recruitment of female train drivers began in 2024 following an order from the President of Uzbekistan, Shavkat Mirziyoyev. The selection process was open to female employees already working within the metro system.

Applicants faced a rigorous evaluation process, which included interviews...

UzAuto Motors posted a significant increase in profit during 3Q24. The company reported net income exceeding UZS 2.7 trillion, up 42.5% compared to the same period last year, according to its financial statement.

Revenue rose by 6.5% year-on-year, adding UZS 2.5 trillion. Meanwhile, production costs increased by only 1.5%, or UZS 0.5 trillion. As a result, gross profit jumped from UZS 5.1 trillion to UZS 7.1 trillion — a 38.5% increase from the previous year.

President Shavkat Mirziyoyev has signed a decree that requires the Central Bank of Uzbekistan to complete the implementation of a centralised anti-fraud system by early September.

By the same deadline, banks and payment organisations across the country must also introduce similar systems.

By September 1, the Central Bank’s unified platform will begin integrating transaction data and other financial information from Uzbekistan’s financial institutions.

The regulator will publish monthly lists of banks and payment systems reporting the highest number of cybercrime cases.

The Central Bank also plans to launch a system to detect signs of financial pyramid schemes and notify...

President Shavkat Mirziyoyev has ordered the establishment of a unified training cluster to develop qualified personnel for public service, the energy sector, transport and other strategic industries, according to the presidential press service.

The cluster will include the El-Yurt Umidi Foundation and the Academy of Public Policy and Governance. As part of the initiative, civil servants will be sent on internships. Master’s degree programmes, professional development courses and retraining schemes will be designed in partnership with international institutions.

In addition, Uzbek citizens who win scholarships to study at leading global universities may receive financial support from the El-Yurt Umidi Foundation. For those admitted...

An international paragliding festival will take place in the Urgut district of Samarkand region on May 10-11, according to Uzbekistan’s Tourism Committee.

The event, set to be held in Andak mahalla, is expected to welcome around 70 athletes from ten countries. The programme includes paragliding competitions, an air show, a food exhibition and musical performances.

The festival aims to boost Urgut district’s profile as a tourist destination. Organisers also hope to attract more extreme sports enthusiasts to Uzbekistan.

The Indian government has withdrawn its representative to the International Monetary Fund (IMF), Krishnamurthy Subramanian, following his public criticism of the institution, Bloomberg reports.

Subramanian, who held the position of Executive Director at the IMF, was expected to complete his term in six months. He previously served as Chief Economic Adviser to Indian Prime Minister Narendra Modi from 2018 to 2021.

In one of his speeches, Subramanian stated that his economic growth forecast for India was more accurate than the IMF’s. He also openly criticised the Fund’s comments regarding foreign exchange interventions by the Reserve Bank of India.

According...

Global gold prices have resumed their upward trend ahead of the US Federal Reserve’s upcoming interest rate meeting, according to Bloomberg.

The June futures contract rose to $3,290 per troy ounce, marking a recovery after a week-long decline.

The Fed is widely expected to keep rates unchanged. However, strong US labour market data and pressure from President Donald Trump could push policymakers towards lowering rates.

A signal of potential rate cuts would likely support gold prices. During periods of loose monetary policy, gold tends to rise as US Treasury yields fall and inflation expectations increase. In recent...

Participants in Uzbekistan’s Work and Travel programme will receive interest-free loans of up to UZS 15 mln, according to a government resolution.

Each year, up to 2,000 students can apply for these loans. To do so, applicants must submit documents through public service centres or the online portal. The application requires a valid visa, proof of income, and an employment contract.

Once approved, borrowers will be required to repay the loan within one month of returning to Uzbekistan.

Work and Travel remains one of the most popular student exchange programmes worldwide. It gives students the opportunity to obtain temporary...

Tashkent will welcome global digital leaders for GSMA M360 Eurasia 2025 on May 21-22. Organised by GSMA in partnership with Uzbekistan’s Ministry of Digital Technologies and hosted by Beeline Uzbekistan, the event will focus on accelerating digital connectivity and innovation across Eurasia.

The forum will open with a keynote featuring Vivek Badrinath, Director General of GSMA; Sherzod Shermatov, Minister of Digital Technologies of Uzbekistan; Andrey Pyatakhin, CEO of Beeline Uzbekistan; and Kaan Terzioglu, Group CEO of VEON. They will discuss the region’s growing role as a global digital powerhouse.

The event programme covers key industry priorities:

Marvel Studios’ superhero film Thunderbolts grossed $162 mln globally during its opening weekend in May, Reuters reports.

In North America, the movie collected $76 mln. Analysts had expected box office takings of around $88 million in the United States and Canada. In China, Thunderbolts earned $10.5 million over the same weekend.

«This is roughly what we expect from Marvel films in today’s market,» said Jeff Bock, Senior Box Office Analyst at Exhibitor Relations Co.

Bock noted that the film had a solid start, especially considering it features lesser-known Marvel characters.

The story follows a team of...

Uzbekistan has expressed concern over the growing number of reported rights violations against its citizens working in Russia, the country’s Ministry of Foreign Affairs said.

The issue was discussed during talks with Russia’s Ambassador to Uzbekistan, Oleg Malginov. The ministry also highlighted several incidents involving mistreatment of Uzbek nationals.

At the same time, both sides reaffirmed their close cooperation on consular and legal matters.

Uzbekistan and Russia regularly discuss migration-related issues, including preparations for Uzbek citizens seeking employment in Russia.

In late April, Tashkent and Moscow agreed to strengthen mutual controls to ensure better protection of the rights...

In 1Q25, 1.5 mln citizens of Uzbekistan travelled abroad, marking a 20.3% increase compared to the same period last year, according to the State Statistics Committee.

Visiting relatives remained the primary purpose for international travel. Nearly 1.2 mln Uzbek nationals cited family visits as their main reason for going abroad.

Additionally, 307,200 travelled for tourism, while 11,800 sought medical treatment. Another 7,400 went abroad to pursue education.

Business travel also contributed to the figures, with 3,300 citizens departing on official trips.

Uzbekistan is advancing its bid to join the World Trade Organisation (WTO) after President Shavkat Mirziyoyev signed a decree introducing key regulatory reforms. The move is expected to significantly speed up the accession process, according to the Ministry of Justice.

Under the new measures, exclusive rights held by state-owned enterprises will be abolished, marking a major step towards liberalising the domestic market. The country will also align its energy efficiency requirements for household appliances with international standards, ensuring better market access and compliance.

Additionally, a new declaration procedure for agricultural products will be introduced to bring local practices in...

US President Donald Trump has confirmed he will not seek a third term, acknowledging constitutional limits. He made the remarks during an interview with NBC News.

Speaking to presenter Kristen Welker, Trump said he had never intended to remain in office for more than eight years, including his first term. Once his presidency ends, he plans to pass leadership to a new Republican candidate.

Trump mentioned US Vice President JD Vance and Secretary of State Marco Rubio as potential successors. Journalists noted that Rubio has not previously expressed interest in running for president.

The announcement coincided with renewed speculation...

The Asian Development Bank (ADB) has announced plans to increase funding for its food security programme in the Asia-Pacific region to $40 bn by 2030, according to a statement from the bank.

The programme, running from 2022 to 2030, will enter its second phase. Governments across the region will receive $18 bn, while the bank will invest an additional $7.5 bn into the private sector. The initiative will cover all stages of the food production chain — from cultivation and processing to distribution and consumption.

The programme aims to create new jobs, reduce environmental impacts, and develop sustainable supply...

The number of electric vehicle charging stations in Uzbekistan reached 1,400 as of May 1, 2025, according to the Ministry of Energy. This marks a 2.5-fold increase compared to the previous year.

Around 92,000 electric vehicle drivers now use charging stations across the country.

Tashkent city and Tashkent region remain the leaders, hosting 820 and 154 stations respectively. Together, they account for 70% of all charging infrastructure in Uzbekistan.

Namangan, Samarkand and Jizzakh regions also rank among the top five. Meanwhile, Syrdarya region and Karakalpakstan recorded the lowest numbers, with only 13 and 14 charging stations respectively.

Syrdarya...

Chevrolet Cobalt ranked as Kazakhstan’s most-produced vehicle in the first quarter of 2025. Manufacturers assembled 6,559 units, according to the Kazakhstan Automobile Business Association.

The Cobalt was followed by Hyundai Tucson with 5,152 units, Kia Sportage with 2,774, Hyundai Mufasa with 2,134, and Hyundai Santa Fe with 1,472.

In brand rankings, Hyundai led with 12,806 vehicles produced. Chevrolet followed with 7,657, then Kia (5,609), Jetour (2,437), and Jac (1,696).

Kostanay and Almaty remained the country’s major production centres. Plants in Kostanay produced 18,000 vehicles, while Almaty assembled around 13,000. Other regions contributed lower volumes.

Anar Makashova, Head of...

Warren Buffett has confirmed plans to step down as Chief Executive Officer of Berkshire Hathaway before the end of 2025. Speaking at the company’s annual shareholder meeting, he announced that Gregory Abel, Vice Chairman of Berkshire Hathaway and head of Berkshire Hathaway Energy, will succeed him.

Abel’s appointment was anticipated. Buffett had identified him as his likely successor as early as 2021. Addressing the transition, Buffett stated that while he will continue as an adviser, Abel will take full responsibility for the company’s key management decisions.

Buffett also reaffirmed his long-term commitment to the company. He said he will...

Uzbekistan’s junior and youth weightlifting teams have brought home four medals from the World Weightlifting Championships held in Peru, according to the National Olympic Committee of Uzbekistan.

The Uzbek athletes claimed two silver and two bronze medals across various weight categories and disciplines.

Rising star Marjona Abdumutalova earned two silver medals and one bronze, competing across two disciplines in the combined total.

Her teammate, Hikmatillo Khaydarov, added another bronze medal for Uzbekistan in the snatch event.

Kursiv Uzbekistan also reports that Uzbek track and field athletes secured second place overall at the Asian U20 Athletics Championships.

India has officially banned the import and transit of goods from Pakistan, according to a directive from the country’s Directorate General of Foreign Trade.

Indian authorities cited national security and public policy interests as the primary reasons for the measure.

The move comes just days after Pakistan imposed a similar ban on April 24, halting all trade with India in the wake of escalating diplomatic tensions.

The deterioration in India-Pakistan relations followed a terrorist attack on April 22 in the Indian town of Pahalgam, where militants from the group Kashmir Resistance killed 26 tourists.

India has publicly blamed Pakistan...

Manchester City head coach Pep Guardiola has addressed why Abdukodir Khusanov, the young footballer from Uzbekistan, has yet to make an appearance in recent matches, according to the club’s press service.

Guardiola reassured fans that Khusanov’s opportunity will come, stating that his absence from the pitch is not a reflection of his long-term potential.

«One of the reasons was that Khusanov had already received a yellow card, and I didn’t want to take any risks,» said Guardiola.

The 20-year-old defender has now missed eight consecutive matches for Manchester City. On May 2, City narrowly defeated Wolverhampton 1–0, with Khusanov once...

Uzbekistan’s state-owned energy company Uzbekneftegaz has successfully issued $850 mln in Eurobonds on the London Stock Exchange, as reported by news agency Dunyo.

The deal was finalised during a visit by an Uzbek delegation to the United Kingdom led by Deputy Minister of Economy Khurshid Mustafayev.

This marks the largest single-tranche bond issuance in Uzbekistan’s history, signalling strong investor interest and growing international confidence in the country’s energy sector.

The transaction was carried out in partnership with J.P. Morgan, Standard Chartered Bank, and Uzsanoatqurilishbank.

Kursiv Uzbekistan also reports that Navoi Mining and Metallurgical Company (NMMC) is also planning...

As of the beginning of the 2024–2025 academic year, Uzbekistan’s universities are home to 12,500 foreign students, according to the latest data from the National Statistics Committee.

More than half of these students are from India, with 6,500 Indian nationals enrolled in higher education institutions across the country.

Other top countries of origin include:

These five countries account for the majority of Uzbekistan’s international student population, highlighting the nation’s growing appeal as a regional education hub.

Kursiv Uzbekistan also reports that a...